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SBI vs Post Office FD Calculator: If you want to invest in fixed deposits for a long time and are confused about whether to invest in a bank or a post office, then here we are telling you about the 5-year FD of the post office and the 5-year FD of State Bank. At present, you are getting a return of 7.5 percent on a 5-year FD in the post office, while you will get a profit of 6.75 percent on State Bank. Let us tell you on the basis of calculation that if you invest Rs 2 lakh in SBI for 5 years, how much profit will you get and how much profit will you get by investing in the post office.
How much profit does the bank get?
If you invest Rs 2 lakh in State Bank for 5 years, you will get interest of Rs 79,500 at the rate of 6.75 percent. In this way, you will get a total of Rs 2,79,500 on maturity. On the other hand, if senior citizens deposit Rs 2 lakh in it for 5 years, they will get more benefits. Currently, senior citizens are being given interest at the rate of 7.25 percent on FDs up to 5 years. In such a situation, they will get a total of Rs 86,452 as interest and thus a total of Rs 2,86,452 will be available on maturity.
how much profit in post office
If we talk about post office, at this time post office is giving interest at the rate of 7.5 percent. In such a situation, if you invest 2 lakh rupees for 5 years, you will get 89,990 rupees as interest on maturity. In this way, you will get a total of 2,89,990 rupees on maturity. Senior citizens will also get the same amount on maturity. In such a situation, there is more profit on 5-year FD in post office.
SBI Other FD Interest Rates
More than 1 year but less than 2 years: 6.80%
More than 2 years but less than 3 years: 7.00%
More than 3 years but less than 5 years: 6.75%
Above 5 years but upto 10 years: 6.50%
Senior citizens get .50 percent more.
Interest Rates on Other Post Office FDs:
1 Year FD: 6.00%
2 Year FD: 7.00%
3 Year FD: 7.10%
5 Year FD: 7.50%